AMD Shares Plummet After CEO Forecasts Declining Data Center Sales
Shares of Advanced Micro Devices (AMD) experienced a significant decline in European markets on Wednesday. The company's CEO, in a recent statement, forecasted a downturn in data center sales, which is a key revenue stream from the artificial intelligence sector.
On the Frankfurt Stock Exchange, AMD shares opened 8.6% lower on Wednesday morning, despite low trading volume. In after-hours trading on Tuesday, the stock had already lost over 8% of its value.
The decline in AMD shares follows a positive regular trading session on Tuesday, which ended with a 4.6% gain. Investors are now closely monitoring the company's performance as they assess the impact of the projected decline in data center sales on AMD's overall financial outlook.